Quintis has appointed KordaMentha as administrators after its cash reserves were finally exhausted following a hedge fund's decision to force the sale of a plantation parcel back to the company.
By placing the business into voluntary administration, equity investors face the risk of realising zero return on their shares, which have not traded since May 2017.
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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
